Research In Motion "buy," target price raised

09/26/06 - Canaccord Adams

NEW YORK, September 26 (newratings.com) - Analysts at Canaccord Adams maintain their "buy" rating on Research In Motion Ltd (RIMM). The target price has been raised from $95 to $115.

In a research note published this morning, the analysts mention that picture leaks of the new Blackberry 8800 indicate that the launch of the product is less than two months away. The Blackberry Pearl 8100 and the full QWERTY keyboard version are likely to enable Research In Motion to achieve the ten million annual device shipment mark and exceed the ten million subscriber target, the analysts say.